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Meyer Burger Selling Software Biz to S&T AG for CHF 14 Million Cash

The two companies signed a contract to this effect on Oct. 24, 2019.

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By: Anthony Locicero

Copy editor, New York Post

Meyer Burger Technology Ltd announced that it is selling its subsidiary AIS Automation Dresden GmbH (Germany) to S&T AG in Linz (Austria).

The two companies signed a contract to this effect on Oct. 24, 2019.

S&T AG is taking over all business units of AIS as well as the roughly 140 employees. The contract is subject to customary completion conditions and has to be approved by the antitrust authorities in Germany.

The transaction will therefore probably be completed towards the end of November 2019. The agreed purchase price is in the order of CHF 14 million in cash.

Meyer Burger anticipates an accounting profit arising from the transaction of around CHF 2 million. This accounting profit arises net after a goodwill recycling charge of just under CHF 5 million.

Meyer Burger will continue to obtain certain services from AIS Automation Dresden GmbH.

“The sale of AIS to S&T AG is a compelling solution for all parties involved,” Meyer Burger CEO Hans Brändle said. “The IT and software solutions developed by AIS are in better hands with its new owners. It will enable Meyer Burger to concentrate more strongly on the strategic PV business with the successful heterojunction/SmartWire technology as well as some promising next-generation cell technologies.”

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